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    Host Marriott Corp.
    list rank

    From the April 28, 1997 Washington Post

    '96 (in $ 000s) % Change From '95
    Revenue 732,000 51.2
    Net Income (13,000) --
    Rank Last Year: 34

    Host Marriott Corp. owns, operates and franchises hotels. The company owns 83 hotels operating predominately under the Marriott and Ritz Carlton brand names. It also is a general partner and holds minority ownership interest in 251 hotels.

    Business Resume:
    • Contact Info --
      10400 Fernwood Rd.
      Bethesda, Md. 20817
    • Main Business --
      Hotel real estate
    • Founded --
    • Chairperson --
      Richard E. Marriott
    • President --
      Terence C. Golden (CEO)
    • Employees --
    • D.C.-Area Employees --
    Under its new president and chief executive, Terence Golden, Host Marriott acquired or purchased controlling interests in 23 full-service hotels with 10,881 rooms in 1996. Over the past two years, the company has converted or shed many of its economy hotels in favor of the more lucrative full-service niche. Host Marriott now operates two limited-service hotels, compared with 14 in 1995.

    The company also moved to strengthen its balance sheet, raising nearly $1 billion in common stock and "convertible preferred securities" offerings. The ratio of debt to total assets improved to 51 percent from 61 percent at year-end 1995. In the 1993 split of Marriott Corp., Host Marriott took over the real estate holdings, including debt.

    Last month the company announced plans to acquire 29 senior living communities from Marriott International Inc. in a deal valued at $540 million.

    Copyright 1997 The Washington Post

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